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In America we can get Annual Percentage Yields (APY) or savings rates between 3% and 3.5% for money kept in high yield on-line saving accounts. One might feel quite good about earning 3.5% by putting our cash into one of the many available on-line saving accounts, especially when compared to the large negative returns from stock markets over the last year. However, having lived overseas and still having some cash there, I can assure you that here in America we are getting some of the lowest APYs. For example in Australia you can earn an average of 7.5% to 8% in online savings accounts that operate in exactly the same fashion as the ones here! To illustrate the global interest rate differentials I have complied a list of high interest account savings rates from around the world....
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